On average, American families spend just over ten percent of their yearly income on purchasing foods. If the family has a tendency to eat out, the total percentage of the cost of food for a family skyrockets.
But it does not have to be this way. With careful budgeting, planning, and a few tips on how to save on food costs, a family or an individual will be able to save thousands of dollars per year on food. The first way that a person or a family can save on food costs is by budgeting for the expense. At Check City we know that the vast majority of customers that use are payday loan services have had an expense of some sort come up unexpectedly. By implementing the concepts in this post you’ll be able to begin the process spending less on your food and being able to start setting that extra money aside incase your family finds themselves faced with an unexpected expense.
Budget For Food
Budgeting one’s income is always a smart financial move. With budgeting, an individual or family can see exactly where their money is being spent and where they can make cuts in expenditures.
This rule of smart budgeting likewise applies to the family’s food budget. By setting a limit to the overall cost per month that an individual or family is willing to spend, can afford to spend, or wishes to spend on their food costs, they will be able to begin saving money immediately on their monthly expenditure on food.
Plan Out Your Meals
After setting a budget for the money that one can afford to spend on food costs, they can begin to plan the meals around that budget. Planning the family’s meals every week will allow a provider to determine what food is being bought and at what price.
By planning out the meals for the week according to what food the family already has and by planning future meals that can all be made with similar ingredients, a family will be able to use purchased food and other ingredients to supply multiple meals. For example, the same core ingredients of that one might use to make spaghetti sauce can be used as filling for a casserole.
Make One Trip to the Grocery Store
In this way, a single trip to the grocery store can yield food stuffs that can be made into multiple meals, feeding the family for the week or until the next trip to the grocer which translates into fewer errands for food which directly translates into lowered food costs. Planning meals ahead of time also allows a family to use local grocery store coupons to direct their purchases and meal plans.
By planning for meals using the deals and coupons offered by the stores in the area, a family can create a meal plan for the week according to what food items are on sale, which will immediately cut food costs. Budgeting and planning the family meals ahead of time around local grocer deals are both ways that a family can start to save on food costs.
But those are not the only ways to cut down the food bill. Shopper tips and techniques can likewise be used to great effect by the family or individual who is consciously striving to save on their annual expenditure on food.
The first and biggest tip that experienced shoppers have learned is to avoid purchasing the big name brands of food. Choosing to buy the popular or most common food brands exposes the food shopper to sometimes incredibly high mark ups on items.
Save Some Money, Go Generic!
Even small mark ups on food items can be avoided by simply choosing to go with the generic brand over the name brand. The same can of soup with a generic label may cost ninety cents while the name brand cost a buck fifty.
This is not a huge mark up in straight dollar amount, but percentage wise it is enormous. The same high percentage mark up for things such as meat and poultry, on the other hand, can cause the unaware shopper to spend literally hundreds of dollars more per year on their protein selections.
Buy In Bulk
Another smart shopper technique that has been proven as a money saver is to buy some food items in bulk. Buying food stuffs in bulk where practical can save individual or family massive amounts of money over the course of a year on the food items they consume regularly.
For an example of how buying in bulk can save a family money, consider the price of the common staple of rice. Rice is used by many households in many different meals and can be bought in a bulk bag of over twenty pounds for as little as ten dollars where a one pound bag of rice at the same store may be marked at three dollars.
Buying in bulk on the common food items that a family uses regularly and shopping the off brands are just two ways that a food shopper can save themselves money. By budgeting a set cost for food, planning out meals and using money saving practices while shopping for food, an individual or a family can begin to cut into the ten percent of their income that they spend on food costs.